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Possible Bearish Inside Day Candle Pattern Detected for Cerner Corp (NASDAQ:CERN)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Cerner Corp (NASDAQ:CERN) based on the price action in the company's shares. Yesterday's price range of $78.75 and $79.68 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Cerner Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Cerner Corp (NASDAQ:CERN) is currently priced 18.3% above its average consensus analyst price target of $64.53. The stock should find initial support at its 50-day moving average (MA) of $73.22 and further support at its 200-day MA of $70.47.

Cerner Corp share prices have moved between a 52-week high of $80.90 and a 52-week low of $54.22 and closed yesterday at 46% above that low price at $78.95 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has risen 0.4%.

Cerner Corporation is a worldwide supplier of healthcare solutions and services. The Company's solutions are designed to optimize clinical and financial outcomes for healthcare organizations ranging from single-doctor practices, to health systems, to entire countries, for the pharmaceutical and medical device industries, and for the healthcare commerce system.

SmarTrend is tracking the current trend status for Cerner Corp and will alert subscribers who have CERN in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle Cerner Corp

Ticker(s): CERN